Seventh Annual Eastern Economic Forum Kicks Off in Russia’s Vladivostok

The forum was traditionally a platform for negotiating and signing massive economic deals between Asia-Pacific companies and their Russian counterparts. However, in light of recent events, this year's forum will have a bigger focus on global politics and their impact on economic cooperation.

On Monday, the seventh annual Eastern Economic Forum (EEF) is openinig its doors to thousands of attendees from several dozen countries, ranging from journalists to government ministers.

The forum will feature multiple speeches and host numerous negotiations on its sidelines over four days between September 5 and 8. As per last year, the forum is taking place in Vladivostok, Russia.

Russian President Vladimir Putin at EEF 2021

© Sputnik / Grigory Sysoev

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Russian President Vladimir Putin is scheduled to join the EEF on the third day, September 7, when he is expected to deliver a special speech for attendees.

In his written address, which was sent to visitors several days ago, Putin announced the key topic of this year's EEF – the transition to a multipolar world. The president pointed out that the topic became acute in light of the degradation of the unipolar model and expressed confidence that a new world order based on the principle of mutual respect for each country's unique developmental path is being established.

"We note with satisfaction how the direct bilateral cooperation between the Asia-Pacific states, as well as their cooperation within the framework of such influential associations as the Eurasian Economic Community, the SCO, BRICS, APEC, and ASEAN, is gaining momentum. Russia is ready to continue making efforts in improving regional cooperation in various formats with all partners, who are interested in it," Putin said in the written address.

The EEF was first held in 2015 and has been organized annually since, with the exception of 2020 due to the pandemic. It has become a major platform for negotiating cooperation between Russia's eastern regions and foreign governments and companies of the Asia-Pacific region.

It also traditionally saw billions of dollars-worth of business deals signed on its sidelines between Russian and foreign companies. During the EEF in 2021, at least 380 deals worth over $59 billion were signed, based on the data released. The majority of these deals were foreign investment projects in Russia’s eastern territories.